How the rich make life unaffordable for regular people
There’s a Wall Street Journal article about how very rich people are buying multi-unit apartment buildings and turning them into single-family urban mansions.
In September, Ms. Painvin bought a three-unit townhouse in Brooklyn with plans to convert it into a 3,000-square-foot home. “We were kind of floored at the amount of space you could get,” she says.
Libertarian types often ask “how does it hurt me if someone else makes a lot of money?” Well here is an example of how it hurts you, by making it unaffordable to live in the good neighborhoods of Brooklyn.